Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1887-06-24
On CHANGE.
Spot Cotton Fractions and Futures
from -Four to Nineteen Points
Lower-Money Market Easy.
Wheat Opened Firm, Fiuctueted Narrowly
and Closed at a Decline - Live
Stock Transactions Brisk.
Daily Review


! Old hens are lower and slow.
! THE STATE OF TRADE.
Special kilograms to Bradstreet's show
that the volume of merchandise moving
does not vary much from last week. The
COLLAPSE Of the wheat corner and the panic
In the coffee market naturally resulted
in abnormal activity in those lines, but
speculation in corn, oats, hog products,
petroleum and cotton has been tenn
porarily depressed. Traffic on the trunk
lines promises to increase since the
break in wheat prices. Yet, except at
St. Louis, ST. Joseph, Kansas City and
! Denver, general trade is characterized as
moderately active, or fair for the season.
Crop prospects in al directions continue
favorable, except for rice in Louisiana,
owing to overflow. Rains west and
northwest, and particularly in Texas,
have benefited the crops.
/ The special report of earnings of I01
railroads to Bradstreet's, for May and
for the first five months of the year, shows
that for May the gain over 1886 was So
2G7 ,0SS, or 10 per cent, against gain
of 16 per cent. in April; for five months
1887 gain of SI7, 81, or Is per
cent. over 1886. The expenditure for
building at thirty-fve cities in five
months of 1887 was SlO3. O8l, 900, sgainst
| 1876, 900 in 1856, gain
of % per cent. The reported
value Of real estate transfers at
forty three cities is 81 per cent. in ex-
cess of five months in 1886, pointing to
the extent Of speculation in land. 4 BET
ter understanding Of recent expansions of
! bank CT 'aringS of some western cities is
furnished by the details.
Bank clearings at thirty eight cities, for
six days ended yesterday, wired to Brad
streets, aggregate about I,02l 900, Geo,
against S1,004, 456,940 last week, and
| 1914, III, 6l0 in the like week year ago.
This shows gains of about 1000, 900
over the week before, and Sl07 600, 600
over the total year ago, or less than >
and ii per cent. respectively, which may
be accounted for in part by heavy specu-
lative transactions at Chicago, New York
and elsewhere. at leading domestic
money markets the demand for funds has
increased, and rates are frequently higher
and tirmer. There is already & renewed
request for currency from the country,
which Kansas City, Chicago aud Milwau-
kee are feeling. Late Kansas City bank
loans were 100000, and Chicago bank
loans Sl2,000,o00 in excess of one year
ago, total SIS. 000,0U0. Total increased
deposits S24, 100000 1t is probable that
more money will be held ct tle western
centers than heretofore. The breaks in
other speculative markets made the
New York stock market feverish and
unsettled, with bear attacks and declines
in values followed by e partial recovery
and dull and uncertain feeling in the
market. The ruling of the Interstate
Commission on the long haul question is
regarded Gs meesurably favorable TO the
railroad interests. Foreign exchange is
weak on an outpouring Of bills against
the renewed grain exports.
But 5000 strikers are recorded in the
first half of June, an average of 400 daily,
against about IS, 900, or 1000 daily, in the
first half of May. The coke strike has
finally collapsed, and the record is worth
noting. The strikers have lost from
$9gD,000 to $500, 900 in wages, snd one
qglxfter of their number have received an
sH9ance equivalent to 100000 per an
rum. About 10000 other workers forced
into idlencss by the coke strike have lost
81, 400, 900 in wages.
The avalanche of wheat which the Chi
cago clique prices of last week brought
there overwhelmed manipulators and
broke twenty five commission houses
when their customers declined to make
margins good. Most Of those holding on
have been taken care Of, and the pros
pect is that the trade west will have little
TO do for the present beyond providing
for light daily receipts. The decline in
price was 244c, Pork is still "cornered,"
and the June option is firmly held at 500
per barrel. while the cash product sells
at about SIS. Hogs have been 20@30c.,
and cattle 30@ 40c lower at Kansas City.
OF the &c Drop in the price of coffee st
the New York Exchange, 4c has been re
covered, and the market continues
steady, 5@6c below quotations at Rio.
Sugar has been unfsvorablY affected at
New York by renewed sales, following
the refinery fire. Elsewhere it Is firm.
Holders of wool are firm, but buyers are
slow, awaiting further arrivals of the new
clip. Flannels are selling on the basis of
recent auc ion prices. There gre some
orders for lightweight woolens, but the
industry as 8 whole has not improved. |
Cotton goods are strong, some mills not !
having been able to meet the demand
Bradstreet's.